<h1>GST restructured to 5% and 18% rates with 40% surcharge on luxury goods; life, health insurance and essential medicines exempt</h1> The state chief minister welcomed the GST Council's decision to restructure GST into two main rates (5% and 18%) with a special 40% surcharge on select luxury and sin goods, and to exempt life and health insurance plus certain lifesaving medicines and medical devices. The measure legally amends taxable classifications and rates, likely reducing compliance burdens for common-use goods, lowering consumer tax incidence, and stimulating trade and renewable-energy investment in the capital. The council's unanimous endorsement signals broad policy support but may prompt administrative updates to notifications, billing systems and indirect tax filings.